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Customer Loyalty Index
A metric used to quantify the loyalty of customers, often influencing decisions on where to focus marketing resources.
Implications
A metric used to quantify the strength of customer loyalty, often based on factors such as repeat purchase rates, customer retention, and willingness to recommend, used to assess the effectiveness of loyalty strategies.
Example
Example: A telecom provider uses the Customer Loyalty Index to measure the impact of its customer service improvements, seeing a rise in loyalty scores following the implementation of a new support system.
Related Terms
Different from Net Promoter Score (NPS), which focuses on the likelihood to recommend, the Customer Loyalty Index combines multiple factors to provide a broader measure of loyalty.
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